Triveni Turbine arm to buy 70% stake in TSE Engineering

Triveni Turbine announced that its subsidiary Mis Triveni Turbines DMCC signed an agreement to acquire 70% equity of TSE Engineering in South Africa for approximately Rs 6.17 crore. Registered under South African law, TSE has been working in high-precision engineering repairs and servicing machinery in sugar and other industrial plants in the South African Development Community region. TSE would become a subsidiary of Triveni Turbine Ltd. The acquisition would be for 11.9 million South African rand and is likely to be finished by March 31, 2022. Triveni Turbine Ltd is a leading industrial steam turbine producer. The company has been delivering reliable, efficient steam turbine systems for over five decades. It is a significant manufacturer of industrial steam turbines in India, with a market share of more than 60%. Triveni has installed over 5,000 steam turbines in over 70 countries, including Europe, Africa, Central and Latin America, Southeast Asia, and South Asian Association for Regional Cooperation (SAARC) countries. Image Source Also read: BHEL delivers nuclear steam generator to NPCIL for Rajasthan plant